CAD/CHF Down 0 Pips in Last Hour, in a Downtrend Over Past 30 Days; Nears 20, 50, 100 and 200 Day Moving Averages

Hourly Update

(Last Updated November 23, 2021 1:38 GMT)

At the time of this writing, CADCHF’s rate is down 0 pips (0%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

CADCHF End of Day Recap

Updated 00:30 GMT (04:30 EST)

The back and forth price flow continues for CADCHF, which started today off at 0.73412, down 3 pips 0.04% from the day prior. Relative to other instruments in the Forex asset class, CADCHF ranked 28th the day prior in terms of percentage price change. Below is a price chart of CADCHF.

CADCHF

CADCHF Technical Analysis

The first thing we should note is that the current price of CADCHF is sitting close to its 20, 50, 100 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 200 day average, which is 12.8 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 90 day timeframe. For additional context, note that price has gone down 5 out of the past 10 days.